![A farm business benefits from family members getting a higher degree of education and off-farm experience they can bring back to use on the farm. (Illustration by fpm, Getty Images)](/mydtn-public-core-portlet/servlet/GetStoredImage?symbolicName=1123_032_fbm_considerdelayingnextgeneration.jpg&category=CMS)
Delaying a successor coming back to the farm will give her or him the necessary education, perspective, skills and experience to eventually become a successful leader of the family business.
Oil futures closest to expiration on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange softened Monday morning...
The U.S. Court of Appeals for the District of Columbia Circuit on Friday vacated the U.S. Environmental Protection Agency's denial of previously...
Weather continues to create interesting scenarios for DTN's View From the Cab farmers in Idaho and Kentucky. This week updates on some...
P[] D[0x0] M[0x0] OOP[F] ADUNIT[] T[]
Lance Woodbury is an adviser to family-owned and closely held businesses, including farm businesses. He helps them plan for the future and implement ownership or management strategies that improve their effectiveness.
He also has an interest in his family's ranch near Garden City, in western Kansas.
From 1996 to 2009, Lance led the family-business-consulting efforts of the regional accounting firm Kennedy and Coe. He also managed several offices, led the firm's largest practice group, and served on the firm's management board and its human resource committee.
Lance earned his MBA from Purdue University, his MS in Conflict Analysis and Resolution from George Mason University, and a BA in History and Government from Sterling College. He is a graduate of the Kansas Agriculture and Rural Leadership program and holds a Certificate in Family Business Advising. Lance is a member of the Association for Conflict Resolution and is a Fellow of the Family Firm Institute.Delaying a successor coming back to the farm will give her or him the necessary education, perspective, skills and experience to eventually become a successful leader of the family business.
Feelings of remorse can get in the way of personal and business success. Recognize how these three guilt factors can be detrimental to a farm family.
Recognizing, understanding, labeling, expressing and regulating our emotions can not only improve our mental health, but also our relationships, our physical health and our performance in our family businesses.
Recognizing, understanding, labeling, expressing and regulating our emotions can not only improve our mental health, but also our relationships, our physical health and our performance in our family businesses.